The EBRD will invest up to $125 million in a KTZ Eurobond of up to $1 billion, listed on three exchanges, to upgrade passenger stations and Trans-Caspian Corridor infrastructure, improving regional connectivity and operational efficiency.
The European Bank for Reconstruction and Development (EBRD) is investing up to $125 million in a Eurobond issue by Kazakhstan Temir Zholy (KTZ or Kazakhstan Railways) of up to $1 billion, according to official disclosures.
The bond is listed on the London Stock Exchange, Kazakhstan Stock Exchange, and Astana International Exchange. Proceeds will modernize passenger stations across Kazakhstan, enhancing safety, operational performance, throughput capacity, lighting, and accessibility for disabled passengers.
Additional upgrades along the Trans-Caspian Corridor aim to make rail transportation between Europe and Asia more sustainable.
This development matters because KTZ owns and operates a 16,400-kilometer railway network with more than 1,700 locomotives, 46,800 freight cars, and 2,300 passenger cars. The EBRD will also mobilize technical cooperation funds to help KTZ adopt international standards for passenger rail transportation, including cybersecurity strengthening.
Kazakhstan is the largest and longest-running recipient of EBRD investment in Central Asia, with almost $12 billion (€10.8 billion) deployed across 352 projects. Industries impacted include railway infrastructure, logistics, and cross-border trade.
Regional stakeholders include Central Asian governments, European and Asian shippers, and international development finance institutions.
For investors, the Eurobond issuance signals KTZ’s access to international capital markets, while EBRD’s participation provides credit enhancement. The Trans-Caspian Corridor upgrades are strategically important for diversifying trade routes between Europe and Asia, reducing reliance on northern corridors.
The European Bank for Reconstruction and Development is a multilateral development bank headquartered in London.
Kazakhstan Temir Zholy is the national railway company of Kazakhstan, responsible for the country’s rail infrastructure and operations.
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